Shrimp are decapod crustaceans with elongated bodies and a primarily swimming mode of locomotion – most commonly Caridea and Dendrobranchiata. More narrow definitions may be restricted to Caridea, to smaller species of either group or to only the marine species. Under a broader definition, shrimp may be synonymous with prawn, covering stalk-eyed swimming crustaceans with long, narrow muscular tails (abdomens), long whiskers (antennae), and slender legs. Any small crustacean which resembles a shrimp tends to be called one.
Shrimp are widespread and abundant. There are thousands of species adapted to a wide range of habitats. They can be found feeding near the seafloor on most coasts and estuaries, as well as in rivers and lakes. To escape predators, some species flip off the seafloor and dive into the sediment. They usually live from one to seven years. Shrimp are often solitary, though they can form large schools during the spawning season.
As with other seafood, shrimp is high in protein but low in food energy. A shrimp-based meal is also a significant source of cholesterol, from 122 mg to 251 mg per 100 g of shrimp, depending on the method of preparation. Shrimp consumption, however, is considered healthy for the circulatory system because the lack of significant levels of saturated fat in shrimp means that the high cholesterol content in shrimp actually improves the ratio of LDL to HDL cholesterol and lowers triglycerides.
The global shrimp market was valued at USD 39.24 million in 2019 which is projected to grow at a CAGR of 1.5% during the forecast period. The global shrimp market recorded a volume of 4207.89 thousand metric tons in 2019, projected to grow at an estimated CAGR of 1.4%. The shrimp market is driven by various factors such as the escalating demand due to the increasing health benefits offered by shrimps, increase in adoption of new environmentally friendly production techniques and contract farming & government policies driving the market. Shrimp species, such as white leg shrimp, giant tiger shrimps, gulf shrimps, blue shrimps, and royal red shrimps, are the most popular varieties that are consumed all over the world.
The seafood market size was valued at $159,311.9 million in 2019, and is projected to reach $193,913.6 million by 2027, registering a CAGR of 2.5% from 2020 to 2027. The fish segment was the highest contributor to the market, with $101,526.2 million in 2019, and is estimated to reach $125,914.3 million by 2027, at a CAGR of 2.7% during the forecast period.
The growth of the seafood market can be attributed to increase in awareness of the health benefits regarding seafood and change in lifestyle of the consumers. Non-vegetarian consumers are slowly changing their lifestyle and significantly following pescetarianism. Pescetarianism refers to vegetarian food along with seafood but does not include any meat such as beef, pork, poultry, and others. This shift is observed due to consumers’ preference for healthy diet. As meat & meat products often contain harmful pesticides and chemicals, their high consumption can be dangerous.
Few Indian Major Players
1. Avanti Frozen Foods Pvt. Ltd.
2. Bluegold Maritech (International) Ltd.
3. Coastal Corporation Ltd.
4. D C L Maritech Ltd.
5. Devi Fisheries Ltd.
6. East Coast Marine Products Pvt. Ltd.
7. G F Kellner & Co. Ltd.
8. Nagarjuna Aqua Exports Ltd.
9. Nekkanti Sea Foods Ltd.